Increased mainland exports

Exports of goods came to NOK 68.3 billion, while imports amounted to NOK 44.5 billion in July. This resulted in a trade surplus of NOK 23.8 billion; NOK 6.4 billion more than the same month in 2014.

Mainland exports of machines and fish increased. Exports of natural gas also went up, while low crude oil prices continued to effect exports of crude oil, Statistics Norway reports.

In July, exports declined by 1.1 per cent or NOK 791 million, while imports fell by 14.0 per cent or NOK 7.2 billion. The figures for July 2014 include an oil platform and aeroplanes. Corresponding transactions were not present in July this year. Excluding these transactions in July last year levels the decline in imports.

Low oil prices continued to pull down the export value of crude oil, while exports of natural gas increased. High exports of machines and fish from the mainland also increased in July. Exports of natural gas reached NOK 18.4 billion in July this year, up 37.8 per cent from July 2014. We exported 8.9 billion standard cubic metres of natural gas in a gaseous state. A higher exported volume and higher prices contributed to the increase in value this July.

In July, the export value of crude oil ended at NOK 15.3 billion, down 37.0 per cent from July last year. The number of exported barrels of crude oil was lower. In July, the average price per barrel of crude oil was NOK 463. This was NOK 188 less than in July 2014 and NOK 21 less than the previous month.

In July, fish exports went up by NOK 626 million to NOK 5.4 billion. Exports of fresh whole salmon came to NOK 3.0 billion; an increase of NOK 303 million, and covered half of the total increase. Exports of mackerel and cod also increased in July.